The ePlane Company Plans USD 40–50 Mn Series C Round Venture capital firm Speciale Invest is expected to co-lead the round, which may include a mix of equity and convertible instruments.
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Chennai-based electric aircraft startup The ePlane Company is planning to raise between USD 40 million and USD 50 million in a Series C funding round, according to a report by The Economic Times.
Venture capital firm Speciale Invest is expected to co-lead the round, which may include a mix of equity and convertible instruments.
The company has raised about USD 20 million so far from Speciale Invest and other investors.
The new funding is expected to support aircraft development, strengthen engineering capabilities, and help with certification processes. The startup is also preparing for commercial deployment in the coming years.
Founded in 2019 by Satya Chakravarthy, the company is developing AI-enabled electric flying vehicles designed for taxi services. The two-seater aircraft feature vertical takeoff and landing capability and a range of about 200 km, and are intended for both passenger and cargo transport.
In February last year, the firm signed a deal worth over USD 1 billion to supply 788 air ambulances.
Separately, InterGlobe Enterprises and Archer Aviation have announced plans to launch an all-electric air taxi service in India by 2026.
